Minister Kim Jung-kwan of the Ministry of Trade, Industry and Resources said, "If the (Middle East war situation) worsens further, we could request not only the odd-even license plate driving system but even stronger measures."
The Minister appeared on KBS News Plaza on the 31st and said, "Including those at public institutions, I thank you for voluntarily or institutionally stopping vehicle operations to save on fuel costs and for promoting public transportation," and stated accordingly.
Regarding international oil prices, the official said, "In the United States, there are cases where gasoline has risen from the high-$2 to the high-$3 per liter, approaching 1,500 won when converted," and explained, "In Korea, through the maximum price system, we are trying our best to move in a direction that relatively eases the public's burden."
On the order in the gas station market, the official said, "There have been cases of selling fake oil, and there are cases where inventory was procured cheaply and then sold at high prices," and added, "Because we are responding with a zero-tolerance principle in such cases, we hope, as much as possible, for responses aligned with the prices received from refiners."
Regarding the criticism that the maximum price system induces oil consumption, the official said, "Even fuel exceeding 1,900 won per liter is a sufficient burden for low-income and vulnerable groups," and added, "We are striving to strike a balance between the crude oil supply situation and the public's burden."
The Minister, on releasing strategic oil reserves, said, "Watching the crude oil supply situation, if there is a shortage of crude oil domestically, we plan to release reserves," and added, "If the current difficult situation continues, we plan to assess conditions around late April or May and proceed with a release."
On concerns about naphtha supply, the official said, "We have about three countermeasures, such as plans A, B, and C," and added, "If the Middle East war becomes much more protracted or serious, the government, the public, and corporations will overcome the hardship together by fully informing the public of the measures and reaching agreement to formulate them."